Darden Restaurants

Darden Restaurants, Inc. is a full-service restaurant company. As of May 26, 2013, the Company operated through subsidiaries 2,138 restaurants in the United States and Canada. In the United States, it operated 2,105 restaurants in all 50 states, including 822 Olive Garden, 678 Red Lobster, 430 LongHorn Steakhouse, 49 The Capital Grille, 44 YardHouse, 33 Bahama Breeze, 31 Seasons 52, nine Eddie V's Prime Seafood, six test synergy restaurants (which house both a Red Lobster and Olive Garden restaurant in the same building) and three Wildfish Seafood Grille restaurants. 

Through subsidiaries, the Company owns and operates all of its restaurants in the United States and Canada, except for three restaurants located in Florida and three restaurants in California.

1968: The Red Lobster Inns of America was founded and opened the first Red Lobster restaurant in Lakeland, Florida.

1970: General Mills, Inc. acquires the Red Lobster chain. The restaurant became successful and expanded to three locations in the state with two more under construction.

1971: Red Lobster established an in-house department for purchasing seafood on a worldwide scale.

1975: When Darden was promoted to Vice President of General Mills, Joseph (Joe) R. Lee, the company's first restaurant manager, was promoted to President of Red Lobster.

1976: The General Mills subsidiary opened a microbiology laboratory in Orlando to ensure the quality of its products.

1980: By the end of the year, Red Lobster, with 260 units and almost $400 million in annual sales, had reached ninth place among fast-food companies and accounted for more than half of total sales by seafood fast-food companies.

1982: Alternatively, however, Red Lobster was rated as the nation's largest "dinner-house" restaurant chain, this being the name for a restaurant offering table service and a full lunch and dinner menu. Darden opened the first Olive Garden concept restaurant in Orlando.

1983: There were 350 establishments in 36 states.

1984: Accordingly, a prototype unit opened in Kissimmee, Florida, was a grazer's delight, with a seafood bar serving up oysters, shrimp, clams, calamari, and other appetizers with drinks, and a glass-enclosed grill where fresh seafood was broiled over mesquite-wood flames. General Mills authorized a $104 million remodelling program for Red Lobster, the largest capital-spending item in the parent company's history.

1985: Under General Mills' ownership, Red Lobster expanded into a chain of almost 400 locations.

1988: The company underwent several restructurings and transformed itself from an inexpensive fast-food seller into a chain of casual dining seafood restaurants. North American Red Lobster sales surpass $1 billion.

1989: McGill, Douglas, “Why They Smile at Red Lobster,” New York Times, April 23, Sec. The chain took off, and General Mills opened over 145 restaurants, making the chain the fastest-growing unit in the company's restaurant holdings.

1990: The China Coast restaurant chain is launched.

1991: A Forbes article found the dinner portions, averaging only $10, enormous, but called the salad soggy with dressing, the chicken bland, and the fettuccine alfredo like something out of a TV dinner.

1992: The Olive Garden ended with $808 million in sales and 341 outlets.

1993: Olive Garden secures $1 billion in sales.

1995: Operating more than 1,168 units throughout the United States and Canada, Darden Restaurants, Inc. began its existence as the world's largest full-service restaurant organization, occupying the casual dining niche between fine dining and quick-service restaurants. Forming Darden Restaurants. By the end of the year, the company was shuttered, and the remaining locations were either converted to Red Lobsters or Olive Gardens or closed altogether.

1996: In March, Darden launched a test of a Bahama Breeze Caribbean Grille concept featuring food and drinks found in the islands of the Caribbean Sea and a Caribbean theme. Darden Restaurants indicated that the China Coast experience would not keep it from trying other ethnic formats. On the plus side, profit margins were substantially improved because of the lower cost of goods sold and reduced selling expenses.

1997: Despite the company's positive outlook for the future, Darden Restaurants began to experience financial setbacks due to market saturation. Markets were oversaturated with restaurants, forcing Darden to close 48 poorly performing locations and lose $91 million due to the restructuring.

1998: Lee predicted that, whether Bahama Breeze went into operation or not, Darden Restaurants would add at least two chains to its repertoire. After successful restructuring efforts, Darden Restaurants secures $102 million in profits. Red Lobster and Olive Garden were given makeovers.

1999: Profits reached $140.5 million on revenues of $3.46 billion. The campaign aired another beach-based commercial, titled "Wingtips," which featured a woman walking barefoot across a pristine beach. The company establishes the Culinary Institute of Tuscany in Italy to train Olive Garden chefs; the new restaurant concept Smokey Bones BBQ Sports Bar is launched.

2000: Darden's strategy included a constant reviving of the Red Lobster and Olive Garden chains, expansion of existing new concepts, and the acquisition and development of new concepts.

2001: Darden Restaurants continues expansion; net income reaches a record $197 million.

2002: The number of Bahama Breeze restaurants rose to 21, while nine Smokey Bones were in operation--national expansion for the sports concept was scheduled to begin.

2003: Seasons 52 was under development to "provide guests the opportunity to indulge while still eating well". Seasons 52 restaurants were only being opened in the Florida or Atlanta markets during its initial phase.

2007: Darden announced in January that the company was willing to expand by purchasing existing 100-location chains or even considering franchisors.

2008: The sale was completed in January.

2010: Seasons 52 started a new expansion phase opening up in 11 more states over the next three years. Moreover, the company noted that 40- to 60-year-olds were the most frequent visitors to casual dining restaurants and that the population aged 45 and older were expected to grow by 40 million through 2010.

2011: In January, Darden announced co-locating their Olive Garden and Red Lobster brands in smaller markets to share the kitchen but continue separate menus and eating areas.

2012: In July, Darden acquired the Yard House 39 location beer-centric chain for $585 million from TSG Consumer Partners.

2013: On December 23, Darden's stock rose 3 percent after activist investor Starboard Value, a hedge fund, took a stake in the company.

2014: Darden announced the completion of the sale of Red Lobster on July 28.

2017: Darden announced its intent to acquire Cheddar's Scratch Kitchen for $780 million from shareholders such as L Catterton and Oak Investment Partners. 

Darden Restaurants, our core purpose is to nourish and delight everyone we serve.

To be financially successful through great people consistently delivering outstanding food, drinks and service in an inviting atmosphere, making every guest loyal.